If you complete and submit a self-assessment tax return and are due to make payments on account, your second payment on account will be due by 31st July 2025.
You normally have to make two payments on account each year, unless: • Your last self-assessment tax bill was less than £1,000; or • More than 80% of the tax you owe was deducted at source, i.e. from your salary via PAYE.
The payments on account are calculated on the basis that your income for the following tax year will remain of a similar nature, or more. More information can be found here
If you need any help, call the team at Holmes and Company on 01525 851101 or contact us here
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